National Bank of Canada FI Invests $55,000 in FARO Technologies, Inc. (NASDAQ:FARO)

National Bank of Canada FI acquired a new stake in FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,168 shares of the scientific and technical instruments company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its position in shares of FARO Technologies by 244.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company’s stock worth $5,412,000 after buying an additional 151,382 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in FARO Technologies in the 4th quarter worth approximately $3,562,000. American Century Companies Inc. boosted its position in FARO Technologies by 21.8% during the fourth quarter. American Century Companies Inc. now owns 31,048 shares of the scientific and technical instruments company’s stock worth $787,000 after purchasing an additional 5,567 shares during the period. Intech Investment Management LLC bought a new stake in FARO Technologies during the fourth quarter worth approximately $278,000. Finally, Globeflex Capital L P grew its holdings in FARO Technologies by 8.4% during the fourth quarter. Globeflex Capital L P now owns 55,591 shares of the scientific and technical instruments company’s stock valued at $1,410,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Insider Transactions at FARO Technologies

In related news, Director Yuval Wasserman sold 5,658 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now directly owns 153,512 shares in the company, valued at $4,812,601.20. The trade was a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Horwath sold 1,480 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $43,364.00. Following the completion of the transaction, the chief financial officer now directly owns 39,430 shares of the company’s stock, valued at approximately $1,155,299. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,755 shares of company stock worth $356,020. 2.10% of the stock is currently owned by company insiders.

FARO Technologies Stock Performance

FARO opened at $25.40 on Friday. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13. The firm has a market capitalization of $482.14 million, a P/E ratio of -72.57 and a beta of 1.55. The stock’s 50 day moving average price is $28.37 and its two-hundred day moving average price is $25.85. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share.

Wall Street Analysts Forecast Growth

FARO has been the subject of a number of analyst reports. Needham & Company LLC boosted their price objective on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. StockNews.com lowered shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 16th.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.